MIDEAST STOCKS-Emaar lifts Dubai to eight-month high; weak earnings hurt Saudi

* Dubai reaches its highest in 8 months * Emaar continues to gain on China deal * Aldar surges after raising annual outlook * Ten of eleven Saudi banks decline * Ma'aden plunges on negative earnings By Ateeq Shariff and Maqsood alam July 23 (Reuters) - Stock markets in the United Arab Emirates outperformed the region on Tuesday thanks to their blue-chip developers, while disappointing corporate earnings and falling oil prices dragged Saudi shares lower. Oil slipped to around $63 a barrel on Tuesday as concerns faded for now that rising tensions in the Middle East would escalate and hit oil supplies, compounding the impact of a weaker demand outlook. The Dubai index closed up 2.1%, to reach its highest since mid-November 2018, with real estate shares leading the gains. Dubai's largest listed developer Emaar Properties jumped 4% and its unit Emaar Malls surged 4.6%. The realtor had jumped 2.5% on Monday when it struck a deal with Beijing Daxing International Airport over an $11 billion project that includes residential and leisure facilities. "The UAE-China partnership seems to have fired up the real estate stocks," said Vrajesh Bhandari, senior portfolio manager at Al Mal Capital. Emirates NBD added 1.7%. Last week, the Emirate's biggest lender reported an 80% rise in second-quarter net profit boosted by the sale of a stake in Network International and strong non-interest income on foreign exchange gains. In Abu Dhabi, the index was up 0.9%, continuing its wining streak for a sixth day. Aldar properties leapt 6% to its highest since January 2018, after the firm raised its annual profit guidance by 50% for the next three to four years. Emirates Telecommunications Group climbed 1.6% after reporting a slight rise in second-quarter profit, while National Bank Of Ras Al Khaimah traded 4.4% higher after the lender reported a 25.7% surge in profit for the same period. In Saudi Arabia, the main index Tadawul fell 1.3%, sliding for a fourth straight day, with the country's largest lender National Commercial Bank shedding 1.8% and heavyweight Saudi Basic Industries declining 1.5%. Saudi Arabian Mining Company (Ma'aden) plunged 4.6% after it swung to a second-quarter loss, which it blamed on falling average realised prices of all products except gold. National Shipping Company of Saudi Arabia (Bahri) dropped 4.8% after it reported a 75% fall in second-quarter profit. In Qatar, the index lost 0.3%, weighed down by a 0.8% fall in market heavyweight Industries Qatar and a 1.6% drop in Qatar Gas Transport. Egypt and Oman were closed for a public holiday. SAUDI ARABIA The index dropped 1.3% to 8,796 points ABU DHABI The index gained 0.9% to 5,345 points DUBAI The index was up 2.1% to 2,833 points QATAR The index lost 0.3% to 10,511 points BAHRAIN The index slid 0.3% to 1,522 points KUWAIT The index declined 0.3% to 6,640 points (Reporting by Ateeq Shariff and Maqsood Alam in Bengaluru; Editing by Susan Fenton)